Study Of The Evolution Of The Model Of Corporate Governance In The Context Of Economic Globalization Trend

Whether the corporate governance models will converge or not within world range, is the new argument focus of comparison schools, and the theory guide of countries' corporate governance reform practices in globalization as well. The analyses of current literatures are mainly based on efficiency of institutional competition and path dependence theories. The first chapter of this paper indicates the deficiencies of current views by comparing practices with theories on the bases of reviewing given literatures; The second chapter has summarized the four dominant factors that influence the change of corporate governance model, and has developed a general discussion frame through comparing the realistic change routes of developed country and developing country. The original equilibrium of corporate governance game, the players' new judgment on information states, the net proceeds of changing strategies and the change of government preference determine the direction of corporate governance model changing; The third chapter illustrates meanings and main representations of economy globalization, analyses the influence and results of globalization on given four factors, suggests that efficiency theory of institutional competition and path dependence theory will embody simultaneously in corporate governance changing process. In the future, the change of corporate governance models will be finite convergence. The directorate structure, the principles and act of protecting stakeholders interests and incentive mechanism will converge on one model, while trait of diversity will embody in three aspects comprising choosing operator, dominate financing practice and ownership structure.